How's the market doing Christine?

I found a very accurate depiction of our current market situation here in the bay. It was outlined out very well in an article in this April of 2009 Richmond Times-Dispatch's Metro Business section by Andrew Little (with John B. Levy & Co.):--exchange the city Richmond for Silicon Valley--:) Different coasts, same issues~Thanks @rvabusiness

"Buyers, like lenders, are nervous and skittish and not able to get a feel for what the long run looks like. Sales brokers across the country report large institutional sellers making strategic decisions to prune their portfolios or exit a market at fire-sale prices, only to find their lowered price expectations are not met.

In Richmond, long-term owners are wading into the market in hopes of shedding a piece of their portfolio at a price that only a year ago would have seemed unimaginably low. While it will be up to the buyers to determine if the sale prices are reasonable, getting buyers off the fence is difficult today. It seems as if all buyers are waiting for some longer-term sign to emerge that could help them make an investment decision."